Increased weather volatility is creating financial risk for many businesses, often disrupting operations and leading to costly setbacks. Vortex Weather Insurance's Andy Klaus, vice president of business development, and Brad Davis, president, explain how gaps in traditional insurance combined with more frequent and unpredictable weather events leave organizations exposed to losses from rainfall, wind, hurricanes, and snowfall. They also discuss how parametric insurance helps address these challenges by using independently recorded weather data to trigger faster payouts.
In this podcast, you'll learn:
— How parametric insurance is different from traditional coverage with its data-based triggers and quicker payouts
— How advances in data availability and technology have expanded access to parametric solutions
— Which industries are facing increased exposure to weather variability and how parametric coverage helps manage financial risks
About Vortex Weather Insurance
Vortex Weather Insurance is a data-driven weather risk insurtech that offers businesses a variety of affordable parametric weather index insurance products. Since 2008, Vortex has provided insurance for outdoor events ranging from fairs and festivals, motorsports, youth sports, professional golf tournaments and golf clubs to outdoor theaters and concerts, and seasonal events. Insurance is underwritten by Mitsui Sumitomo Insurance USA, Inc. (MSU), admitted in all 50 states and has an AM Best rating of A+ (Superior).
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